The innovation train just keeps rolling as another startup emerges in the B2B payments space. Centime is based in Massachusetts and is led by founder and CEO BC Krishna, who some readers may recall was the founder of payables fintech Mineral Tree. Through its platform, the Centime startup is providing better cash flow options to companies in the SMB segment, which can be broken down into many sub-segments, but shares a common general issue of maintaining adequate levels of liquidity.
This has been especially punishing during the pandemic, so new entries like Centime are creating ways to improve cash visibility, provide speedier execution in financial operations, and easier access to credit where needed. We covered the importance of more advanced cash cycle automation in a recent member report.
The release at PRNewswire indicates that the company has joined the Visa Fast Track program for fintechs, which provides some advantages to innovative startups, including faster onboarding to the Visa network and easier access to its partners across the globe, as well as support from payment experts where required.
There is a link in the release for those interested to learn more about the program. The release also states that Centime will be working with bank partner FNBO for easier access to commercial credit card lines.
‘Centime’s Cash Flow Control solution empowers small and mid-sized businesses to control and manage cash flow. The relationship with Visa will help Centime power the solution, which allows clients to monitor cash, improve decision-making with real-time cash flow forecasting, nudge late-paying customers and instantly access cost-effective credit to bridge liquidity gaps.’
We managed to chat with CEO Krishna for a few minutes, who indicated that the firm has a strong funding base, great partners, and a unique approach to the glaring cash flow issues faced by SMBs. He advised that there will be much more information available about how the Centime platform solves this common business problem in the coming weeks.
“We’re delighted to be part of Visa’s Fast Track program,” Centime founder and CEO BC Krishna said. “Small and mid-sized businesses can plan better and grow faster by using Centime to gain control over cash flow. Working with bank partners and empowered by Visa’s network, our clients can now easily access cost-effective credit to meet their working capital needs.”…“By joining Visa’s Fast Track program, exciting fintechs like Centime gain unprecedented access to Visa experts, technology and resources,” said Terry Angelos, SVP and Global Head of Fintech, Visa. “Fast Track lets us provide new resources that rapidly growing companies need to scale with efficiency.”
Overview by Steve Murphy, Director, Commercial and Enterprise Payments Advisory Service at Mercator Advisory Group
